In calculating net take from gaming machines, the actual cost to the licensee of any personal property distributed to a patron as the result of a legitimate wager may be deducted as a loss, except for travel expenses, food, refreshments, lodging or services. For the purposes of this section, "as the result of a legitimate wager" means that the patron must make a wager prior to receiving the personal property, regardless of whether the receipt of the personal property is dependent on the outcome of the wager.
§ 60-2E-38 NMSA 1978
Calculation of net take; certain expenses not deductible
Known as the New Mexico Bingo and Raffle Act
The act spans §§ 60–60 (572 sections).
Laws 1997, ch. 190, § 40.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.